I'm trying to understand what they are trying to capture.
So, are you saying: If the suv's original purchase price of say $35K, then if the total depreciation from all 2005 to 2022 totals more than the $35K, that's what I have to pay tax on?
Also how can I value the car at 0 when I haven't done anything with it yet in 2023. Seems like this shouldn't even be calculated in 2022 until I really do dispose of or donate the suv.
Also, I don't know if I even have my returns back from 2005 to probably 2015 to figure out the mileage used in the early year returns.
Thanks for the further help.
